Taysom Hill out for the season with torn ACL-additional damage per Rapoport [Hill placed on Injured Reserve on 12/6]

Not sure how an injury settlement with a vested vet works or it is even relevant.
Not relevant. Since he was hurt during the 2024 season, the team has no financial obligations to him in 2025. An injury settlement would only come into play if he was hurt during 2025.

It seems like you have to cut Taysom post-June 1 to get the cap savings, but still have Taysom's $17M on the roster and cap between March and June. I see a post June 1 cut, then we'll add Taysom to the dead money pile
Taysom may also be willing to rework his contract, which could reduce his cap hit. They could put not-likely-to-be-earned incentives, such as playing in 9+ games, that could allow him to earn back any pay reductions without affecting the 2025 cap.